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Mexico Insurance Report Q1 2016

  • ID: 3606494
  • January 2016
  • Region: Mexico
  • 62 pages
  • Business Monitor International
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FEATURED COMPANIES

  • AXA Seguros SA de CV
  • Banorte Seguros
  • GNP
  • Monterrey New York Life
  • MORE

We have revised our outlook for the Mexican insurance sector in the Q1 2016 report update. We hold a positive outlook for the Mexican insurance industry as a whole for 2016 and beyond, over the course of our forecast period out to 2019. We believe that the strongest growth in 2016 and over the forecast period will come from the life insurance sector. The life insurance sector is set to grow by 11.3% in dollar terms in 2016 whereas the non-life sector will grow by 10.8% this year. Premiums will reach USD11.3bn and USD14bn respectively. Over the medium term, we forecast the growth rate to slow down slightly, but we still anticipate strong single digit growth in both sectors, both primarily driven by a strong economy, a robust manufacturing and services sector and growing household income and disposable discretionary spending powers.

The Mexican insurance sector as a whole is now forecasted to grow strongly at an average annual pace of 6.3% in local currency terms and 8.7% in US dollar terms between 2016 and 2019 as the currency begins to stabilize and economic growth propels the country forward. The life insurance sector will be the strongest engine of growth with US dollar growth in 2016 totalling 11.3% and premiums topping USD11bn. We see little to derail growth over the course of our forecast period in dollar terms and local currency.

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • AXA Seguros SA de CV
  • Banorte Seguros
  • GNP
  • Monterrey New York Life
  • MORE

Table: Headline Insurance Forecasts (Mexico 2012-2019)

SWOT

Insurance

Industry Forecast

Life Premiums Forecast
Table: Life Premiums (Mexico 2012-2019)
Table: Life Insurance Claims (Mexico 2007-2014)

Non-Life Premiums Forecast
Table: Non-Life Premiums (Mexico 2012-2019)
Table: Non-Life Insurance Claims (Mexico 2008-2014)

Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums by Product Line (Mexico 2012-2019)

Industry Risk Reward Ratings

Latin America Insurance Risk/Reward Index
Table: Latin America and the Caribbean Insurance Risk/Reward Index

Market Overview

Life Market Overview

The Product Offering

The Competitive Landscape
Table: COMPANY PERFORMANCE: Life Insurance Market (USDmn) 2008-2014
Table: COMPANY PERFORMANCE: Life Insurance Market (%) 2008-2014

Non-Life Market Overview

The Product Offering

The Competitive Landscape
Table: COMPANY PERFORMANCE: Non-Life Insurance Market (USDmn) 2008-2014
Table: COMPANY PERFORMANCE: Non-Life Insurance Market (%) 2008-2014

Company Profile

AXA Seguros SA de CV

Banorte Seguros

GNP

Monterrey New York Life

Quálitas Compañía de Seguros SAB de CV

Methodology

Industry Forecast Methodology

Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

Note: Product cover images may vary from those shown
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AXA Seguros SA de CV
Banorte Seguros
GNP
Monterrey New York Life
Quálitas Compañía de Seguros SAB de CV

Note: Product cover images may vary from those shown
4 of 4
Note: Product cover images may vary from those shown

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Our Clients

  • Transatlantic Holdings, Inc.
  • Aon Plc.
  • Swiss Reinsurance Company Ltd.
  • Prudential Financial, Inc.
  • General Reinsurance Corporation
  • ING Group